Evolution Gaming is planning to expand in Malta, one of Europe’s hubs for gambling companies from all over the world, as the software maker is now looking to cater to an increasing demand for authentic and more accomplished iGaming products
The European iGaming Hub Malta
Malta is one of Europe’s places to be if you are somehow connected to the iGaming industry. From the time you land at the airport, you begin to see the HQs of iGaming companies. Now, it’s live casino software developer Evolution Gaming that wants to bring a new studio in Malta in 2019 to meet the increasing demand in orders for authentic live products.
With the latest financial figures showing a strong growth in Evolution Gaming’s development, it’s easy to see why the company is attempting to consolidate its presence while meeting the influx of orders for live-like casino experience.
Evolution Gaming: Interim report January-September 2018 https://t.co/ZEfq9F9i5U
— Evolution Gaming IR (@IREvoLiveCasino) October 24, 2018
In Q3 alone, the financial results of the company soared to a nearly 41% year-over-year, marking one of the strongest periods for EG on record. Revenue went all the way up to €64.3 million dragging operating profit up with itself at €23 million.
This is another 27% hike compared to results in Q3, 2017. September’s revenue was also quite impressive, reaching a total of €127 million, which was another 40% jump in the month alone, adding another 30% uptick in the operating profit of the month alone, and rounding things up to €48 million.
All of these results were occasioned by the excessive growth of live tables that flagship operators worldwide actually operate. William Hill has been one of the most noteworthy clients of the studio, running nearly 500 tables. Unibet is another noteworthy company that has been seeking the exclusive services of the company.
Pushing the Growth Up Across Europe
Malta is an excellent spot for the company to be using as its base of operations. Still, there is a lot of untapped potential all across Europe. In terms of GGR, the software maker has seen its markets labelled ‘Europe’ and ‘World’ expand at a rate of 50% and up to 25% respectively.
One of the key reasons behind this growth has been the fact that the operator is already licensed in a multitude of markets in Europe, but also well across the world. Some of the regulatory whitelisted areas where the company can operate are Canada, New Jersey in the United States, and the European bastions – Italy, Spain, Denmark, and the United Kingdom.
Evolution Gaming is envisaging another important change in the landscape – the increase in demand for language-specific products. Put quite simply, the regulation of specific markets, and more importantly, expanding legal gaming in certain countries has led to a crop of gamers that would more than ever have gaming products in their own languages. The expansion is timely, given the prospects of business to expand.
Popular markets include the Netherlands, Spain, and Sweden and Finland. There has been an influx in demand for experts who know the specifics of these markets and know how to tap into them and appeal to local customers.
Evolution Gaming is expanding in Malta in 2019 and it will do so in a new, ground-breaking fashion, too. s